Ghana: House Prices, Rents, and Rental Yields
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Last Updated: Nov 14, 2005
Ghana yields are moderate at 6% - 8%
| Last Updated: Nov. 14, 2005 | |||||
| ACCRA | COST (US$) | YIELD (p.a.) | PRICE/SQ.M. (US$) | ||
| TO BUY | MONTHLY RENT | TO BUY | MONTHLY RENT | ||
| 100 sq. m. | 70,000 | 400 | 6.86% | 700 | 4.00 |
| 200 sq. m. | 150,000 | 750 | 6.00% | 750 | 3.80 |
| 250 sq. m. | 175,000 | 1,000 | 6.86% | 700 | 4.00 |
| 300 sq. m. | 220,000 | 1,400 | 7.64% | 733 | 4.70 |
| 350 sq. m. | 260,000 | 1,700 | 7.85% | 743 | 4.90 |
| 400 sq. m. | 300,000 | 2,000 | 8.00% | 750 | 5.00 |
| 600+sq. m. | 420,000 | 2,500 | 7.14% | 700 | 4.20 |
| Source: Global Property Guide | |||||
A 200 sq. m house would cost about US$150,000 (GHC1.43 billion), and would rent for around US$750 (GHC.2 million) per month, giving a gross rental yield of around 6 to 8%. Residential property prices are around US$700 – US$750 per sq. m (GHC6.7 – 7.2 million).
The rental market in Accra is relatively large with 37.5% of all households renting (only 22% for Ghana as a whole). Only about 40.4% of households in Accra claim ownership of their houses (57.4% for Ghana), while another 20.5% live rent-free (19.5% for Ghana). The remaining 1.6% of housing is employer-provided (4.5% for Ghana).
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Your Comments
posted by Evans Lartey Asare | 2008-04-02
Investment Analyst, Accra, Ghana
Great to see some figures for Accra but I think the figures need to be updated to capture current apartment developments. Average prices shown here are too low compared to prices of newly developed apartments in Accra
posted by our Editor: Matthew Pollock | 2008-04-02
Yes correct. Our figures are rather old.